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Shares in Nuance Communications Inc. (Nasdaq: NUAN) began the day up more than 50 cents a share this morning, before settling down to a more modest gain, after the company announced improved earnings and a step back toward profitability in its Q1 2010, which ended Dec. 31.
The Burlington-based speech-to-text software maker reported revenue of $263 million in the quarter, 21.3 percent over the year-ago period. The earnings brought a net loss of $4.3 million, an improvement over Q1 2009’s $26.3 million reported loss.
Chairman and CEO Paul Ricci said the company was able to improve operating margins, while increasing investment in R&D, advertising and sales personnel.
Nuance last reported a profitable quarter in its Q2 2009, ending Mar. 31, when the company recognized net income of $7.1 million — compared with a net loss of $26.8 million in the year-ago period.
Nuance continued its acquisitive bent through its first fiscal quarter, announcing at least two deals — its December acquisition of British voice-to-text maker SpinVox Ltd. for $102.5 million, and its October purchase of paper document integrator eCopy Inc. for $54 million. Nuance started its second quarter with $426.9 million cash on hand.
The company reported positive cash flow of $65.1 million in the quarter, down from $80.8 million in the year-ago period.
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